Vision

A vision is a vivid mental image of what you want your business to be at

some point in the future, based on your goals and aspirations. Having a
vision will give your business a clear focus, and can stop you heading in
the wrong direction.

An aspirational description of what an organization would like to

achieve or accomplish in the mid-term or long-term future.

Mission

Mission is the core purpose of an organization or companies a summary

of the aims and core values. A mission clearly tells what you as
organization do for customers. A mission is comprehensive but also
very specific to set you apart from other organizations.

SWOT Analysis

Businesses use the Strengths, Weaknesses, Opportunities and Threats

(SWOT) analysis to determine the internal and external factors that
directly influence their operations.

Strength

Capacity to resist force or pressure. Capital, knowledge, skill, or other

advantage that a firm has or can acquire over its competitors in
meeting the needs of its customers. Strengths describe what an
organization excels at and what separates it from the competition: a
strong brand, loyal customer base, a strong balance sheet, unique
technology, and so on.
Weakness

A company weakness is any resource or process that

your business lacks, but needs to succeed

Weaknesses stop an organization from performing at its optimum level.

They are areas where the business needs to improve to remain
competitive

Opportunities

opportunity involves sale or lease of any product, service

Opportunities refer to favorable external factors that could give an

organization a competitive advantage. For example, if a country
cuts tariffs, a car manufacturer can export its cars into a new market,
increasing sales and market share.

Threats

Threats refer to factors that have the potential to harm an organization.

For example, a drought is a threat to a wheat-producing company, as it
may destroy or reduce the crop yield. Other common threats include
things like rising costs for materials, increasing competition, tight labor
supply and so on.

Objective

 Objectives define strategies or implementation steps to attain the

identified goals. A business objective is a result that a company aims to
achieve. It also includes the strategies that people will use to get there.
A business objective usually includes a time frame and lists the
resources available

Business objectives allow an organization to define its goals and

direction.

Goal

business goals describe what a company expects to accomplish over a

specific period of time. Businesses usually outline their goals and
objectives in their business plans.